Global Strategic Investment Solutions LLC Sells 141 Shares of AbbVie Inc. (NYSE:ABBV)

Global Strategic Investment Solutions LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,158 shares of the company’s stock after selling 141 shares during the period. Global Strategic Investment Solutions LLC’s holdings in AbbVie were worth $206,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie during the 3rd quarter valued at about $999,000. Saturna Capital Corp boosted its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its stake in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its stake in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Wells Fargo & Company boosted their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley boosted their target price on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Piper Sandler boosted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,439 shares of company stock valued at $11,377,057 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

AbbVie Price Performance

AbbVie stock opened at $211.27 on Tuesday. The business’s 50 day simple moving average is $185.08 and its 200 day simple moving average is $187.04. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $212.30. The company has a market cap of $372.97 billion, a price-to-earnings ratio of 88.03, a PEG ratio of 1.62 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same quarter in the prior year, the firm posted $2.79 EPS. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.11%. AbbVie’s payout ratio is 273.33%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.